Cost of Living: Lakewood, CO vs Rochester, MN (2026)

Lakewood

Colorado
141
VS

Rochester

Minnesota
93

Lakewood is 52% more expensive than Rochester.

$1,746/mo ↑ 33%
Median Rent
$1,316/mo ↓ 25%
$85,789/yr ↓ 2%
Median Income
$87,767/yr ↑ 2%
$548,200 ↑ 91%
Home Value
$287,500 ↓ 48%
$1,729/mo ↑ 30%
Owner Costs
$1,332/mo ↓ 23%
156,309
Population
121,638

Tax Comparison

4.4%
Income Tax
9.85%
2.9%
State Sales Tax
6.875%
0.51%
Property Tax
1.11%

Affordability

24.4%
rent-to-income
Affordability
18.0%
rent-to-income

Detailed Comparison

When comparing Lakewood, CO and Rochester, MN, the overall cost of living indices are 141 and 93 respectively (national median = 100). Rent is $430/month cheaper in Rochester, saving renters about $5,160/year.

Median household income is $1,978/year higher in Rochester. Home values also differ significantly — the median in Lakewood is $548,200 compared to $287,500 in Rochester.

Colorado has a lower income tax rate, making Lakewood slightly more tax-friendly.

Frequently Asked Questions

Lakewood vs Rochester — common questions

Is Lakewood or Rochester cheaper to live in?
Based on our cost index, Rochester is cheaper to live in with an index of 93 compared to 141 (US average = 100).
What is the rent difference between Lakewood and Rochester?
Median rent in Lakewood is $1,746/month and in Rochester it's $1,316/month — a difference of $430/month.
Which city has higher income, Lakewood or Rochester?
Median household income is $85,789 in Lakewood and $87,767 in Rochester. Median household income is $1,978/year higher in Rochester.
How do taxes compare between Colorado and Minnesota?
Colorado has 4.4% income tax, 2.9% sales tax, and 0.51% property tax. Minnesota has 9.85% income tax, 6.875% sales tax, and 1.11% property tax.
Should I move to Lakewood or Rochester?
It depends on your priorities. Lakewood has a cost index of 141 with median rent of $1,746/mo, while Rochester has a cost index of 93 with rent of $1,316/mo. Consider income potential, tax burden, and lifestyle preferences alongside raw cost data.
View Lakewood details → View Rochester details →

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